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Asia Pacific Retractable Needle Safety Syringes Market Anticipated to Gain Substantial Growth at a CAGR of 8.9% during 2016-2024

06-12-2017 11:52 AM CET | Health & Medicine

Press release from: Medical Industry Analysis Reports - MRH

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As government institutions promote the use of safe syringes and safe injection practices, the retractable needle safety syringes market is likely to gain pace in response. India and a few other countries in the Southeast Asia have collaborated with the WHO to promote the use of safe syringes aimed at preventing the spread of deadly diseases. According to the key findings of a new study, with government initiatives aimed at promoting the quality of healthcare and rising medical tourism, Asia Pacific is likely to emerge as a major market for retractable needle safety syringes in the coming years. To present a detailed analysis of the market trends and factors in Asia-Pacific, a study titled “Retractable Needle Safety Syringes Market Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024” has been released and broadcasted to the vast archive of Market Research Hub’s research offerings.

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Retractable needle safety syringes are largely accepted over conventional syringes and therefore hold substantial potential for growth. As per the key findings, between 2016 and 2024, the retractable needle safety syringes market is probable to exhibit a CAGR of 8.9% in Asia Pacific. At this pace, the market’s valuation is projected to reach US$467.2 million by the end of 2024, from US$236.7 million in 2016. Prime factors such as the rising geriatric population, increasing the incidence of chronic ailments, growing awareness among physicians as well as patients, and the demand for advanced treatment modalities have acted in favor of the Asia-Pacific retractable needle safety syringes market.

In the first part, this report provides in-depth analysis of the retractable needle safety syringes market. Additionally, a detailed overview of market dynamics, including the drivers, restraints, and opportunities of the market, along with porter’s analysis, value chain analysis of the Asia-Pacific market has been provided. Country wise segmentation includes market analysis in Australia & New Zealand, Japan, China, India, ASEAN countries and Rest of Asia-Pacific.

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Syringes with retractable needles and syringes with protective shields are safety syringes widely used in hospitals. The emphasis on preventing the re-use of syringes by safety bodies and governments has raised the demand for safety syringes. It mainly reduces the number of needlestick injuries and prevention of accidental infection of patients. Retractable needle syringes are used for several diseases such as diabetes, cancer, vaccination etc. Based on product type, the Asia Pacific retractable safety syringes market is bifurcated into automatic and manual. Amongst, the manual retractable needle safety syringes segment is expected to dominate the market. On the other hand, by end users, the market is segmented as hospitals, clinics, ambulatory surgery centers and others segment.

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Key market players profiled in this report include Retractable Technologies, Inc., Axel Bio Corporation, Sol-Millennium, DMC Medical Limited, UltiMed, Inc., Medigard Limited, Becton, Dickinson and Company, Medtronic plc, Smiths Medical, Globe Medical Tech, Inc., Medigard Limited among others.

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